Commercial Syn Bags Ltd

₹ 283 -3.30%

25 Sep - close price

About

Incorporated in 1984, Commercial Syn Bags
Ltd manufactuers and exports containers and packaging materials^[1]

Key Points

Business Overview:^[1]
Commercial Syn Bags Limited (Comsyn), based in Indore, is a leading manufacturer and exporter of packaging solutions, including Flexible Intermediate Bulk Containers (FIBCs), tarpaulins, woven sacks, and BOPP bags.

Website BSE NSE

Market Cap ₹ 1,187 Cr.
Current Price ₹ 283
High / Low ₹ 315 / 136
Stock P/E 40.0
Book Value ₹ 44.0
Dividend Yield 0.18 %
ROCE 13.9 %
ROE 16.1 %
Face Value ₹ 10.0

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Pros

Promoter holding has increased by 1.57% over last quarter.

Cons

Stock is trading at 6.43 times its book value
Company has a low return on equity of 12.0% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Packaging

Part of BSE Industrials

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	79.47	68.26	71.07	69.63	76.89	86.65	86.49	97.79	90.51	98.45	97.48	100.56	109.13
	72.89	60.84	67.07	60.89	70.02	78.79	77.04	86.41	79.49	85.45	85.39	88.66	93.45
Operating Profit	6.58	7.42	4.00	8.74	6.87	7.86	9.45	11.38	11.02	13.00	12.09	11.90	15.68
OPM %	8.28%	10.87%	5.63%	12.55%	8.93%	9.07%	10.93%	11.64%	12.18%	13.20%	12.40%	11.83%	14.37%
	0.27	0.56	0.24	2.27	0.85	0.80	0.13	2.25	0.71	0.36	0.15	1.41	0.80
Interest	1.63	2.05	1.65	3.08	2.33	2.10	2.74	2.20	2.44	2.10	2.16	2.43	1.99
Depreciation	2.63	2.71	2.79	2.81	3.00	2.67	2.64	0.52	2.72	2.67	2.73	2.75	2.98
Profit before tax	2.59	3.22	-0.20	5.12	2.39	3.89	4.20	10.91	6.57	8.59	7.35	8.13	11.51
Tax %	1.93%	27.02%	30.00%	37.11%	19.25%	7.71%	16.19%	26.12%	15.53%	1.98%	18.37%	22.02%	22.42%
	2.54	2.35	-0.25	3.22	1.93	3.60	3.52	8.07	5.55	8.42	6.00	6.34	8.93
EPS in Rs	0.64	0.59	-0.06	0.81	0.48	0.90	0.88	2.02	1.39	2.11	1.50	1.57	2.21
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	191	213	323	290	288	347	387	406
	167	189	289	266	261	312	339	353
Operating Profit	24	25	34	24	27	36	48	53
OPM %	12%	12%	10%	8%	9%	10%	12%	13%
	2	1	4	2	3	4	3	3
Interest	4	4	7	6	8	9	9	9
Depreciation	7	8	9	10	11	9	11	11
Profit before tax	14	15	21	9	11	21	31	36
Tax %	21%	17%	14%	14%	27%	20%	14%
	11	12	18	8	8	17	26	30
EPS in Rs	3.22	3.37	4.92	2.02	1.97	4.29	6.52	7.39
Dividend Payout %	16%	20%	14%	0%	0%	9%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	13%
3 Years:	10%
TTM:	12%

Compounded Profit Growth
10 Years:	%
5 Years:	17%
3 Years:	48%
TTM:	43%

Stock Price CAGR
10 Years:	35%
5 Years:	43%
3 Years:	72%
1 Year:	83%

Return on Equity
10 Years:	%
5 Years:	12%
3 Years:	12%
Last Year:	16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	12	12	12	40	40	40	40
Reserves	57	67	93	81	89	110	137
	52	86	84	76	109	115	129
	19	32	32	31	36	43	52
Total Liabilities	140	197	222	227	273	308	358
	58	87	94	99	108	100	106
CWIP	14	0	0	13	0	2	26
Investments	0	0	-0	-0	22	23	24
	68	109	128	116	143	183	202
Total Assets	140	197	222	227	273	308	358

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	27	-9	6	38	6	1	39
	-17	-17	-7	-30	-29	-0	-45
	-10	28	-1	-8	23	0	5
Net Cash Flow	-0	2	-2	-1	0	1	-1
Free Cash Flow	10	-27	-9	10	-0	-1	-1
CFO/OP	130%	-25%	29%	172%	30%	9%	94%

Ratios

Consolidated / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	35	37	40	35	54	49	62
Inventory Days	110	190	115	129	164	160	149
Days Payable	21	37	30	34	39	37	40
Cash Conversion Cycle	124	190	125	130	179	172	171
Working Capital Days	35	35	42	44	28	40	31
ROCE %		13%	16%	8%	9%	12%	14%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

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Mar 2018

Mar 2019

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Mar 2021

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Mar 2023

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Mar 2025

Exports as % of Sales (Manufacturing)
% ・Standalone data

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		xxx	x,xxx	xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
				xx.xx		xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
				xx,xxx.xx		xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx
	x.xx	x.xx	x.xx	x.xx	x.xx		x.xx
										xx	xx

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Installed Capacity
MTPA ・Standalone data

Number of Employees
count ・Standalone data

Manufacturing Capacity Utilization
% ・Standalone data

Solar Power Generation (Captive)
Lakhs units ・Standalone data

Trading Volume (DCA cum CS of OPaL)
MT ・Standalone data

FIBC Sales Volume
Million units ・Standalone data

Geo-textiles Plant Capacity Utilization
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

79 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	58.79%	59.18%	59.18%	60.75%
	0.00%	0.11%	0.00%	0.00%	0.00%	0.00%	0.24%	0.11%	0.00%	0.17%	0.00%	1.60%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.09%	0.06%	0.05%
	41.22%	41.10%	41.21%	41.22%	41.22%	41.21%	40.96%	41.10%	41.21%	40.56%	40.77%	37.59%
No. of Shareholders	4,698	4,711	4,671	5,735	5,864	5,240	4,810	6,015	5,007	5,832	5,378	5,715

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	52.15%	52.18%	53.34%	57.74%	61.15%	62.99%	58.66%	58.79%	58.79%	59.18%	60.75%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.11%	0.00%	0.17%	1.60%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.09%	0.05%
	47.85%	47.82%	46.66%	42.26%	38.85%	37.01%	41.35%	41.10%	41.21%	40.56%	37.59%
No. of Shareholders	278	260	284	567	1,122	2,942	4,749	4,711	5,240	5,832	5,715

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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